Stock Buyers Hunt Bargains as Tech, Bitcoin Rally: Markets Wrap
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(Bloomberg) — A renewed wave of dip buying spurred a rebound in tech stocks in the wake of a rout fueled by worries over the billions of dollars those firms are throwing at artificial-intelligence development. Bitcoin jumped after 50% plunge from from its October peak. Silver and gold also bounced.
Traders Chase ‘AI Resistant’ Stocks as Disruption Fear Hits Tech
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(Bloomberg) — A new group of stock winners has emerged as technology shares slide: Companies with businesses that artificial intelligence can’t replicate.
Partners Group Warns Europe Infrastructure Push Inflating Assets
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(Bloomberg) — Europe’s quest for sovereignty in critical infrastructure like power grids and digital networks risks unsustainable asset-price growth in the sector as cash continues to pour in, according to one of Europe’s largest private equity firms.
Rout Deepens on Wall Street as Tech, Crypto Slide: Markets Wrap
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(Bloomberg) — Another burst of heavy selling pummeled software stocks and crypto, with weak jobs data exacerbating an equity rout spurred by concern over the impact of artificial intelligence on valuations. Bitcoin took one of its biggest tumbles yet. In late hours, Amazon.com Inc. plunged after its results.
Rio Walks Away From Glencore Mega Merger on Price Impasse
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(Bloomberg) — Rio Tinto Group is walking away from talks to acquire Glencore Plc after the two sides failed to agree on valuation, scuttling a potential mega merger that would have created the world’s largest mining company.
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(Bloomberg) — For the secretive billionaire Besnier family, the recent recall of potentially dangerous infant formula made by its nearly century-old firm brings an uncomfortable feeling of deja vu.
World Economic Forum Opens Probe Into CEO Over Epstein Meetings
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(Bloomberg) — The World Economic Forum has opened a probe into Chief Executive Officer Borge Brende over his ties to convicted pedophile Jeffrey Epstein after evidence of meetings between the two men emerged in the US Department of Justice’s massive release of documents over the weekend.
Hedge Funds Say No to New Cash Just as Clients Rush to Allocate
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(Bloomberg) — A new set of hedge funds is spurning fresh cash after the industry’s best year since 2009, just as more capital is poised to come into the sector.
UBS Investment Bank Units to See Bonus Pools Jump by Up To 20%
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(Bloomberg) — Some units at UBS Group AG’s investment bank have seen their bonus pools rise by as much as 20% for 2025, people familiar with the matter said.
Syngenta Is Said to Hire Banks for Potential Hong Kong IPO
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(Bloomberg) — Syngenta Group has started selecting banks for what may be one of Hong Kong’s biggest initial public offerings, according to people familiar with the matter.
Tech Giants Tumble Anew in Momentum-Trade Unwind: Markets Wrap
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(Bloomberg) — Wall Street traders kept driving a rotation out of technology giants, whose all-weather earnings made them safe bets at times of economic uncertainty, and into a broader category of companies tuned to improving growth prospects. Bitcoin extended its selloff.
UBS Sees $29 Million Loss on O’Connor Sale to Cantor Fitzgerald
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(Bloomberg) — UBS Group AG’s asset-management unit booked a $29 million loss in the fourth quarter related to the sale of its O’Connor business to Cantor Fitzgerald LP, according to the bank’s quarterly report on Wednesday.
Nestle Adds Deutsche Bank for Water Business Stake Sale
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(Bloomberg) — Nestlé SA has added Deutsche Bank AG to advise on a potential 50% stake sale in its water business, which could be valued at around €5 billion ($5.9 billion) in a deal, according to people familiar with the matter.
UBS Profit Beat Overshadowed by Worries Over US Wealth Outflows
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(Bloomberg) — UBS Group AG shares slid on Wednesday even after the bank posted profit that beat expectations, amid persistent signs that the wealth management business in the US is losing ground.
UBS Pursuing ‘Fast Follower’ Strategy in Tokenized-Assets Push
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(Bloomberg) — UBS Group AG Chief Executive Officer Sergio Ermotti said the bank is considering offering access to cryptocurrencies for individual clients, while cautioning that it won’t be a “front runner” in implementing blockchain-based technology.
Beazley Agrees to Zurich’s Sweetened £8 Billion Takeover Bid
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(Bloomberg) — Zurich Insurance Group AG has made a sweetened £8 billion ($11 billion) bid to buy Beazley Plc, an offer that’s won the tentative approval of the UK insurer’s board.
UBS Slammed by Senators for Obstructing Nazi Accounts Probe
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(Bloomberg) — Members of a US Senate committee tore into UBS Group AG executives for refusing to hand over more than 150 documents that an investigator has requested that could shed light on the history of Credit Suisse accounts tied to Nazi Germany, as tensions flared again around a 1998 settlement in the case.
Stock Rotation Hits Tech Giants as Small Caps Rise: Markets Wrap
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(Bloomberg) — A tech selloff dragged down stocks from near-record levels amid a rotation into economically sensitive shares. A flare-up in geopolitical risks lifted oil while gold bounced after a historic rout. Bitcoin hit the lowest since November 2024.
China Silver Fund Revaluation Sparks 31% Drop, Pushback
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(Bloomberg) — UBS SDIC Fund Management Co. changed the valuation model for a $2.2 billion silver fund to more closely track global futures prices, triggering a record drop in its net asset value and pushback from some investors already bruised by a precious metals slump.
